By Anthony Caruso III | Publisher
According to a family statement published by the Los Angeles Chargers, owner Alex Spanos’ wife has passed away. She was 92-years-old.
Faye Spanos was married to Mr. Spanos since 1948. She was the grandmother to 15 grandchildren.
“Faye Spanos’ Greek name ‘Fotini’ derives from the Greek word for light,” the statement said. “And throughout her life, Faye has been the light and rock for Alex and for her family.
“As their family grew and their business prospered, Faye shared their good fortune first with their large extended families and then with their community. Faye’s generosity and kindness matched her husband’s, and together they made donations benefiting schools, children, the arts, hospitals, and people in need.”
Mr. Spanos has been the owner of the Chargers franchise since 1984. In 2016, he moved the Chargers from San Diego to Los Angeles.
He had an opportunity to purchase 60% (a majority stake) in the San Diego Chargers from former owner Eugene Klein for $48.3 million in 1984. Following his purchase, he was able to bring in several more small co-owners but was able to take 97% of the ownership in the team by 1994. George Pernicano, the San Diego restaurateur, held the other 3% in the team until his death in October 2016.
Spanos’ son Dean ran the day-to-day operations of the team since his father bought the team. In 2015, the Chargers were valued at $995 million by Forbes.
Mr. Spanos founded A.G. Spanos Companies in 1960. By 1977, it was the largest apartment builder in the United States. It is located in Stockton, California with 10 subsidiaries.
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